For those of you have decided to attend BCOM, how are you approaching the financial aid situation? Knowing that federal loans are not available currently what factors helped you decide to go there anyway? I am currently deciding between a few school and would love to hear other people's thoughts about why bcom despite the money situation.
Also congrats to everyone accepted and good luck to everyone still waiting to hear! Best wishes for you all!
The way I look at is that since we are part of the second class, we would only have private loans for the first year which is not bad at all.
Plus the cost of living in the budget (like most schools) heavily overestimates how much money you need. Don't get scared of the 75k you see, I would think of it as 60-65k because NM is a super cheap state. With tuition at 48k, it is entirely reasonable for food, housing, etc. to be in the 12-17k/year range depending if you are single or have a family you are bringing.
Yes, it is true that federal loan forgiveness programs do not forgive private debt but each state also has different loans forgiveness programs that may forgive private debt as well. Check the AAMC loan forgiveness database for more information: https://services.aamc.org/fed_loan_...1&CFTOKEN=E7AF04B0-034C-62CB-242A730779B181C4
Just don't let the for-profit status or one year of private loans scare you from choosing BCOM if you really like it. Go with your gut feeling. Which campus "felt" better to you? Which place do you see yourself at for the next 2-3 years?